Best Immigration Lawyers in Hialeah, FL

Yes, you can name a guardian for your minor children in a Will, but a Will does not come into effect until you die. That means that if you are incapacitated for a short term or long term, that designation cannot be used. You should have separate designation of guardians for your children.

Yes. A Will or Last Will and Testament only indicates who will be your heir or beneficiary and how much or what that beneficiary or heir will receive, but in order to transfer the assets, a court process called Probate is required.

Probate is the process by which the court validates the authenticity of a will; appoints an executor (aka personal representative); and supervises the settlement of an estate, including the payment of bills, filing of tax returns, and transfer of assets to beneficiaries. If no will is presented, the court will appoint an estate representative, called an "administrator." The administrator carries out the same duties as an executor; but when a person dies without a will the court must determine the heirs of the deceased. The complexity and duration of this heirship determination process varies from state to state, but typically the remainder of the probate process, such as the payment of taxes and bills, remains the same whether there was a will or not. Of course, estate assets are distributed to heirs at law as determined by the state's intestacy laws, not beneficiaries chosen by the testator (aka the deceased who created the will).

Only assets in your individual name or payable to your estate will go through probate. Many folks use a (fully funded) revocable living trust to avoid probate. In addition, contract assets such as life insurance, retirement accounts, and annuities as well as assets owned by joint tenants with rights of survivorship avoid may probate as well.